Smart financial planning to evade debt in 2011

By Anya Bennett

When you reveal your New Year resolution to your friends they might joke and laugh at you, as they have a fair knowledge how difficult it is to retain a resolution. But with the effect of post recession, each family over the globe has a resolution in 2011 to attain financial independence and get liberation from the clutches of debts. With the clock striking twelve people are determined to eliminate debt from their life with an effective financial planning.

In order to plan a secured financial future, you need to change your flamboyant lifestyle. Try to form a plan so that you have a steady financial goal from the beginning of the year. You can consider preparing a budget so that you can curtail your over expenditure. A proper budget planning and enrolling with a reliable debt consolidation company can revive your monetary situation.

If you are encumbered with debt these five steps can help you to restore financial situation this New Year.
1. Set a financial goal:

Focusing on a financial goal can help you to eliminate your debt promptly. Aiming at your goal can recover your financial stability with ease. Try to visualize a plan and be precise on your objective that you have set. Calculate the exact cash that is available and plan the way you intend to repay your unsecured debts.

2. Prioritize your debt that needs immediate attention:

Make a list of the obligations that you need to pay. Give priority to the debts with high annual interest rates therefore arrange it from the ascending to descending order while making a list of the pending bills. Try to exhaust your investment with low profit in order to pay off your high interest credit cards as that might save hefty cash in the long run. This might help you to save some considerable amount of money.

3. Open an automatic savings account:

If you want to resist the temptation of over expenditure when you receive the paycheck at the beginning of the month then open an automatic savings account. You can give instruction to the bank to transfer a stipulated amount from your paycheck to your savings account. If you keep on transferring a fixed amount each month from your checking account to savings account then you can manage to save huge fund at the end of the year. You can even get an annual interest on the fund in the savings account. This account can be utilized as your emergency fund as well as prevent you from taking out loans that might pave the path for debt.

4. Redundant accounts needs to be closed:

If you are planning to start afresh this year then ensure that you close your redundant accounts. Your unnecessary credit and checking accounts might compound your debt burden. You can end up splurging when you find several credit cards available in your wallet. Charges will be levied on maintaining credit and checking accounts therefore you will be wasting your money on them.

5. Make some quick cash:

Try to get some easy cash by taking up a part time job so that you can increase your income to pay off the debt. You can either lend out your garage or take a part time job to earn some extra cash. Plan out different money making techniques so that you can repay the owed amount and you can save fraction of your stable income to secure your financial future.

If you are knee deep in debt then take up the service of a debt relief program so that you can get out of your debt woes. This relief program can embalm your future monetary state. With a comprehensive financial planning you can avoid spine chilling experience of debt.

Anya Bennett
Jan 17, 2011 | 0 comments | View Post

A Common Sense Financial Plan for 2011 (Part 1)

I am not a financial planner, insurance salesman not a mortgage person. The following are just some common sense ideas I came up with by following what’s happening.

This is what I call a realistic Financial Plan for the Average Guy for 2011.

First of all, most of what you read in the “financial” columns, if you wish to read them, is not for the average person. Maybe you consider yourself the average person, but as you read them you’re probably saying, “who are they talking about?”.

At one time, we were all in the “average guys” category. But were we? The average guy at the time and even now, as  portrayed by the “esteemed financial columnists”, not only had a house, but a mostly funded 401(k), enough insurance, as well as significant cash left over.

Back when everything was going great, when  we needed cash we went to the “Giant ATM in the Sky”- in other words, we refinanced our home. Now we can’t refinance our home because we owe more that the house is worth and our debt to income is too high! As a matter of fact, some people are now having to pay PMI insurance where they never had to before.

But what do we do now, when we find out we don’t have all those things? We use our “Financial Plan for 2011”:

  1. 1. Pay your mortgage and the household bills you need to give your family it’s basic elements, first. The way most people get into trouble with their mortgage is by paying all the other bills and leaving their mortgage till last; “I can catch up later”.
  2. Once you miss your first mortgage payment, you are at the pleasure of your Lender.
  3. From the first day past the due day, they are adding late charges. If you get into the second month of arrears, your Lender may may call in the legal department. From that day forward, you are sunk. You can literally never catch up.
  4. In order to “catch up”, you must pay your current payment, plus all arrears, plus legal fees and late payments. Your $1200, one month late, can turn into $3000-3600 real fast.
Dec 28, 2010 | 0 comments | View Post

Homeowners – Here’s Information You need to hear about NOW!!

From Kevin McGill of United Mortgage Modifiers Association of America

Fannie Mae is getting tough on people. The days of people having the opportunity to stay in their home and delay foreclosures are OVER. Fannie Mae and Freddie Mac are forcing servicing agents to foreclose on the homeowner.

Homeowners need to have a plan in place now. You cannot wait to see what is going to happen. The banks are no longer waiting and dragging their feet. We’re seeing foreclosure like never before.

Several clients had gotten a trial plan and had made all their payments on time and were foreclosed on 21 days after the conclusion of the trial plan. Don’t let this happen to your client.

This news is not all bad. It will push homeowners to get off the fence and do something about their situation. It may the start of a recovery and people that want to save their home will be forced to work on it or get out.

From George:

If you’re in foreclosure, getting close to foreclosure or even have a Sheriff’s Sale date set, get off the fence and get moving NOW. Don’t wait until you have a sale date or it may be too late.

Get your Loan Modification done now!! There are loan modification specialists who will start your loan modification with no upfront fees, which means  absolutely no fees unless and until the lender approves you for a modification.

Aug 29, 2010 | 0 comments | View Post

Obamacare 2012 and Beyond

2012

  • Part D cost sharing for full-benefit dual eligible beneficiaries receiving home and community-based care services will become equal to the cost for those who receive institutional care.
  • Medicare payments will be reduced to hospitals by specified percentages to account for excess (preventable) hospital readmissions.
  • Rebates for Medicare Advantage plans will be reduced but high-quality Medical Advantage plans will receive bonuses.
  • Collection and reporting of data on race, ethnicity, sex, primary language, disability status and for underserved rural and frontier populations will be required.

2014

  • US citizens and legal residents will be mandated to have qualifying health coverage (phase-in tax penalty for those without coverage).
  • Employers with 50 or more employees that do not offer coverage and have at least one full-time employee who receives a premium tax credit will be assessed a fee pf $2,000 per full-time employees, excluding the first 30 employees.
Aug 25, 2010 | 0 comments | View Post

Additional Obamacare Reforms Taking Place in 2010

  • States that require insurance companies to explain premium increases will be eligible for $250 million in new grants. Companies with unreasonable rate hikes will be retracted from the 2015 new health insurance exchanges
  • Funding will be made available to help expand the primary card work force – including money for scholarships, for loan repayments and for those professionals working in underserved locations.
  • A $15 billion Prevention and Public Health Fund – to prevent disease and illness – will be established.
  • Funding will be made available to support the construction and expansion of community health centers in order to serve 20 million new patients nationwide.
  • Funding will be made available to provide increase payment to help health cared providers who work in rural communities. (Currently, 68 percent of underserved communities are rural.)
Aug 25, 2010 | 0 comments | View Post

Obamacare Provisions starting September 23 2010

  • Coverage will be extended so that young adults, up to age 26, can remain on their parents’ plans when alternative insurance coverage is not available.
  • All new plans must provide free, preventive health care services without charging a deductible, co-pay or coinsurance.
  • Insurance companies will be restricted from denying coverage due to an error or technical mistake on the customer’s application.
  • External review process will be established for consumers to be able to appeal coverage or claim determinations.
  • Lifetime and annual dollar limits on essential benefits like hospital stays will be prohibited.
  • For new and existing group plans, denying children under 19 coverage due to a preexisting condition will be illegal.
Aug 25, 2010 | 0 comments | View Post

Ear Ache Vs. Ear Infection Part 3

Part 3

Here is how to approach this without the needless suffering by both the child and parent and being able to avoid the use of antibiotics in most of the cases. First, every newborn should be checked by a chiropractor shortly after being born to check the spine. Second, if the child shows any signs of a possible ear ache or infection then it is time to get to a chiropractor to assess the upper spine and make sure that the nerve supply to the middle ear and that Eustachian tube is clear so the child’s body can drain the middle ear and allow the body to take care of business. A chiropractic adjustment will take pressure off of the nerves, allowing the nerves to talk to the smooth muscle properly in the Eustachian tube, allowing the tube to open up and drain the fluid into the throat, and decreasing pressure in the ear. Understand that the immune system itself gets a direct boost when your child or you are adjusted. So not only will your child benefit from proper draining of the middle ear in this scenario but their immune system will get a direct boost giving the youngster a one up on the bugs attempting to set up shop in their body. The chiropractic adjustment is a foundation for getting or keeping your child on the right path to health and healing faster. There are more things to be done including nutrition, massage techniques, and craniosacral therapy to help your child make ear infections and those trips to the emergency rooms a thing of the past.

Aug 09, 2010 | 0 comments | View Post

Ear Ache Vs. Ear Infection Part 2

Part 2

A common scenario…A child upper spine is stressed (delivery, falls, sleeping positions) and the first 3-4 spinal nerves are interfered with as the spinal bones’ alignment and/or movement is impaired. This altered nerve transmission will impact the smooth muscle of the Eustachian tube(s) and most commonly will cause the tube’s diameter to decrease (as the smooth muscle contracts), altering the flow of fluid from the middle ear. This altered flow can range from partial to complete stoppage. Next, the fluid builds up in the middle ear. Soon a buildup of pressure is noticed by the affected individual and a pulling or tugging at the ear may ensue. Once this happens, this is now an ear ache. Too many times an antibiotic is prescribed here too early here when there are no bacteria even present yet. Many of these children are too young to communicate what they feel, so the parent is left in the dark frequently. As the fluid becomes stagnant the environment becomes a breeding ground for bugs like bacteria. Once this begins then this becomes an ear infection. Here is where an antibiotic is first warranted, when there are actually bacteria present and confirmed.

Aug 06, 2010 | 0 comments | View Post

About Dr. Lee Schwartz

My purpose is simple. It is to bring people into relationship, relationship with true self, yourself, and others. Relationship means being connected to true self, to you, and to others. There has always been a passion for health, fitness, natural ways of healing, and the mind within me.

Being in healthcare for the past 12 years as a chiropractor has allowed me to help many. I have decided to share simple nuggets of information related to health development, fitness, natural healing, and the mind that are in my bag of knowledge with you.

My wish is for this to help you can be in better relationship with your physical well being.  The Health Development Tips are available to anyone and everyone. If you know someone who could benefit from the information, then feel free to forward the email onto this person. And if they like what they see, then they can email me and ask to be added to the weekly email. If you do not want to receive the weekly tips, then email back and ask to be removed. Thanks, Dr. Lee Schwartz Active Solutions DrLee@ActiveSolutions2008.com (651)324-0364

Aug 05, 2010 | 0 comments | View Post

Ear Ache Vs. Ear Infection

This tip will be in several installments.

Very commonly youngsters, babies to adolescents, deal with ear aches which can develop into an ear infection. This is the #1 reason for a mom and dad to take their young child to the emergency room. Let’s take a peek at how we can help these youngsters and their parents.

First, a quick anatomy lesson, the ear is made up of an outer, middle, and an inner ear compartment. We will be discussing the middle ear as it is what is affected with ear aches/infections. The middle ear is filled with fluid that naturally drains into the throat via a tube called the Eustachian tube. How this tube is functioning is integral to the draining of this fluid or building up of this fluid leading to an ear ache first and then onto a full blown ear infection if not discovered. The Eustachian tube is made up of smooth muscle that is under control of the first 3-4 spinal nerves. As long as these nerves are able to communicate to the tube then the tube functions normally and all is well.

Look for tip #2

Aug 05, 2010 | 0 comments | View Post
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